Helicos BioSciences announces private placement

Helicos BioSciences Corp. of Cambridge said that it has entered into an agreement with certain investors to raise about $18.6 million in a private placement through the sale of shares of its common stock and warrants.

In a press release, the company estimated that net proceeds from the offering will be about $17.9 million, after deducting placement agent fees and estimated offering expenses, which Helicos intends to use for working capital and general corporate purposes.

To read that press release, please click here.

In recent weeks, Helicos announced a management-team realignment, which included the appointment of a new chief executive, and separately the company said it will cut 30 percent of its work force by year's end.

Helicos is focused on innovative genetic analysis technologies for the research, drug discovery, and diagnostic markets.
(By Chris Reidy, Globe staff)